In re Washington Mut. Mortgage-Backed Securities Litigation, 276 F.R.D. 658 (2011)
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276 F.R.D. 658United States District Court, W.D. Washington,at Seattle.In re WASHINGTON MUTUAL MORTGAGE–BACKED SECURITIES LITIGATION.This Document Relates to ALL CASES.No. C09–37 MJP. | Oct. 21, 2011.
Investors brought putative class action under the Securities Act against entities that created and sold mortgage-backed securities (MBS), alleging that residential mortgage loans backing the MBS were fundamentally impaired and thatinvestors were mislead as to the quality of the underwriting of the loans. Defendants moved for judgment on the pleadings.Plaintiffs moved for class certification.
The District Court,Marsha J. Pechman, J., held that:investors lacked standing to bring putative class action on behalf of purchasers of certain MBS tranches that investors didnot purchase;proposed class of 701 investors was sufficiently numerous that joinder would be impractical;existence of common legal question satisfied commonality class-certification requirement;named plaintiffs' claims were typical of those of putative class;named plaintiffs would adequately represent class;common questions of law and fact predominated over any individual issues; andclass action was superior method of adjudicating claims.Defendants motion granted, plaintiff's motion granted in part.
Attorneys and Law Firms*661
Christopher E. Lometti,Daniel B. Rehns,Joel P. Laitman,Kenneth M. Rehns,Richard A. Speirs, Cohen, Milstein,
Sellers & Toll, PLLC, New York, NY,Joshua S. Devore,Matthew B. Kaplan,S. Douglas Bunch,Steven J. Toll,Julie Goldsmith
Reiser, Cohen, Milstein, Sellers & Toll, LLC, Washington, DC,Janissa Ann Strabuk ,Kim D. Stephens, Tousley Brain Stephens,
Seattle, WA,Anne L. Box, Scott + Scott, LLP, San Diego, CA,Geoffrey M. Johnson, Scott + Scott, LLP, Cleveland Heights,
OH, for Plaintiffs.Wamu Officer Defendants Securities, MDL, pro se.Michael H. Barr, SNR Denton US LLP, New York, NY,Bruce Earl Larson,Dennis H. Walters,Mike Liles, Jr.,Walter Eugene
Barton, Karr Tuttle Campbell,Brian C. Free,Louis David Peterson, Hillis, Clark, Martin & Peterson,Larry Steven Gangnes,
Lane Powell, PC,Gavin Williams Skok , Riddell Williams,John D. Lowery,Paul Joseph Kundtz, Riddell & Williams, Seattle,
WA,David M. Balabanian,Frank Busch,John D. Pernick , Bingham McCutchen, San Francisco, CA,James J. Coster,Joshua
M. Rubins, Satterlee, Stephens, Burke & Burke,Adam Zurofsky,Floyd Abrams,Tammy Roy, Cahill, Gordon & Reindel, New
York, NY, for Defendants.